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Glen Investments Ltd 35/39 Maxwell Chambers Colombiere St. Helier, Jersey, CI July 15, 1999 Bioenvision Inc. Trafalgar House 11 Waterloo Place London, Swiy 4au Dear Sirs as Per Our Previous Agreement We Hereby Confirm That We Are Willing to Continue Loaning Funds to Bioenvision Inc on an Agreed Budget Basis. Yours Sincerely, for and on Behalf of Glen Investments <page> Glen Investments Ltd 35/39 Maxwell Chambers Colombiere St. Helier, Jersey, CI September 8th 1998 Bioenvision Inc. Trafalgar House 11 Waterloo Place London, Swiy 4au Dear Sirs We Hereby Agree to Loan Funds to Bioenvision Inc, on an as Needed Basis Providing That We Have Previously Agreed Budgets. a Condition of This Is That We Have the Right to Call Upon an Option to Purchase 500,000 Shares at $1 Should the Money Lent Exceed $100,000. Yours Sincerely for and on Behalf of Glen Investments
